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Ode' to Renko
Started:November 23rd, 2010 (03:02 PM) by mainstream Views / Replies:3,615 / 26
Last Reply:November 25th, 2010 (12:12 AM) Attachments:5

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Ode' to Renko

Old November 23rd, 2010, 03:02 PM   #1 (permalink)
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Ode' to Renko

Oh Renko how you show me direction.
Oh Renko you are nearly perfection.
You keep me from chop.
You keep me from slop.
I'll ride with you Renko until the trend end.

     
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Old November 23rd, 2010, 03:02 PM   #2 (permalink)
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Old November 23rd, 2010, 03:57 PM   #3 (permalink)
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mainstream View Post
Oh Renko how you show me direction.
Oh Renko you are nearly perfection.
You keep me from chop.
You keep me from slop.
I'll ride with you Renko until the trend end.

Mainstream,

Which particuliar type of Renko has inspired your prose?

     

Old November 23rd, 2010, 04:29 PM   #4 (permalink)
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This week I have switched from Median Renko and Range Bars to the standard Renko bar included with N7 and was quite happy with the cleaner entries. I generally enter soon after a moves starts on the first trend bar after a retrace bar and the Renko bars are
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Old November 23rd, 2010, 05:55 PM   #5 (permalink)
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Renko


mainstream View Post
This week I have switched from Median Renko and Range Bars to the standard Renko bar included with N7 and was quite happy with the cleaner entries. I generally enter soon after a moves starts on the first trend bar after a retrace bar and the Renko bars are
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Interesting...........I too have been researching renko bars..........I checked out the Logik Renko last week and have been looking at Better Renko lately.

Could you post a chart showing an example of your use of the "regular" ninja 7 renko?

Thanks, Jeff

     

Old November 23rd, 2010, 06:34 PM   #6 (permalink)
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Old November 23rd, 2010, 08:24 PM   #7 (permalink)
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Standard Renko and other types are basically the same with a few exceptions. The way mainstream is using them, the wicks don't add much, because visually you want to see the trends/pivots.

You can make BetterRenko display that way, by using the BetterBrick chart style, but set the up/down outline color equal to Transparent, which will effectively not draw the wicks.

     
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Old November 23rd, 2010, 08:51 PM   #8 (permalink)
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aslan View Post
Standard Renko and other types are basically the same with a few exceptions. The way mainstream is using them, the wicks don't add much, because visually you want to see the trends/pivots.

You can make BetterRenko display that way, by using the BetterBrick chart style, but set the up/down outline color equal to Transparent, which will effectively not draw the wicks.


Yes......the Better Brick WITH the Better Renko seems like the ultimate combination.

But I am curious........Aslan as the Better Brick/Renko creator........which version or combination of renko do you prefer and why?

     
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Old November 23rd, 2010, 08:56 PM   #9 (permalink)
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I prefer feature-rich LogicRenko. Ideal for manual and auto trading.

     

Old November 23rd, 2010, 11:36 PM   #10 (permalink)
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Jeff Castille View Post
But I am curious........Aslan as the Better Brick/Renko creator........which version or combination of renko do you prefer and why?

Well, I always use BetterRenko as a base because I know the data is real. I have not seen a single other NT-based renko flavor that can say that (despite what Zoe says). However, if you are not backtesting or doing ATS, it may not matter as OP showed. One of the main things that originally drew me to Renko was the way they visually talk to me. All of the renkos should have very similar shapes, with differences coming from startup alignment, gap treatment, and misc options some may offer.

In terms of display, I attached 5 images that show different flavors of CL 5-tick BetterRenko (Brick, BetterBrick (Hollow), CandleStick (normal and hollow), and OHLC). They are all the same chart, but each says something different to me. My personal favorite is the hollow better bricks. I just like the look of the hollow on a black background, and the wicks tell me what is going on under the surface. I have been warming up to the hollow CandleSticks, mainly because they show the reversals a little better, and I have been working on reversals (i.e. MWinfrey's thread). I will use OHLC bars when I want to see more data on the chart or the bricks are not offering me any information.

Attached Thumbnails
Ode' to Renko-betterrenkobrick.jpg   Ode' to Renko-betterrenkohollowbrick.jpg   Ode' to Renko-betterrenkocandle.jpg   Ode' to Renko-betterrenkoohlc.jpg   Ode' to Renko-betterrenkocandlehollow.jpg  
     
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